document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1076647>Question 1076647</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Question 1073455. What is the formula? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #691287 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=691287\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> this is the question.\r<BR>\n" );
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document.write( "An inheritance of £400000 will provide how much at the end of each year for the next 20 years , if money is worth 7% compounded annually \r<BR>\n" );
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document.write( "for that, you need the following formula:\r<BR>\n" );
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document.write( "ANNUITY FOR A PRESENT AMOUNT WITH END OF TIME PERIOD PAYMENTS \r<BR>\n" );
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document.write( "a = (p*r)/(1-(1/(1+r)^n)) \r<BR>\n" );
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document.write( "a is the annuity.<BR>\n" );
document.write( "p is the present amount.<BR>\n" );
document.write( "r is the interest rate per time period.<BR>\n" );
document.write( "n is the number of time periods. \r<BR>\n" );
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document.write( "p = 400,000<BR>\n" );
document.write( "r = .07<BR>\n" );
document.write( "n = 20\r<BR>\n" );
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document.write( "formula becomes:\r<BR>\n" );
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document.write( "a = (400,000 * .07)/(1-(1/(1+.07)^20)) \r<BR>\n" );
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document.write( "solve for a to get a = 37,757.1703\r<BR>\n" );
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document.write( "you can also use an online calculator that can be found at <a  rel=nofollow HREF= \"https://arachnoid.com/finance/index.html\" target = \"_blank\">https://arachnoid.com/finance/index.html</a>\r<BR>\n" );
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document.write( "results from that calculator are shown below:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" src = \"http://theo.x10hosting.com/2017/041501.jpg\" alt=\"$$$\" </>\r<BR>\n" );
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document.write( "a fairly decent representation of financial formulas can be found at the following reference:\r<BR>\n" );
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document.write( "<a  rel=nofollow HREF= \"https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes\" target = \"_blank\">https://www.algebra.com/algebra/homework/Finance/THEO-2016-04-29.lesson#notes</a>\r<BR>\n" );
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